Asked by Kevin
Suppose that an insurance agent offers you a policy that will provide you with a yearly income of $50,000 in 30 years. What is the comparable salary today, assuming an inflation rate of 5% compounded annually?
Answers
Answered by
Anju
PV of 50000 today @ 5% is to be calculated here.
Answer is $11,568.87
Answer is $11,568.87
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